Expertise Beyond the Numbers

Weekly News Round Up: CFO Risks Today; Future of the ACA; and the Top Five Industries in 2017

Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.

This week, we highlight today’s risks that face CFOs, along with an update on revenue recognition and the impact of changes to the ACA. In addition, we highlight the top five industries that are poised to grow in 2017.

The Rising Risk of Being CFO

For CFOs, the margin for error continues to narrow as regulators strive to hold individuals responsible for companies’ misdeeds, according to this recent CFO Magazine article.

The ACA and the Future of ‘Repeal and Replace’

Accounting Today offers these insights about the future of the Affordable Care Act under the new Trump administration.

Revenue Recognition: The Clock Is Ticking

The new accounting standard for revenue recognition will likely affect every aspect of a business that relates to revenue, from a company’s financial results and compliance with debt covenants to executive compensation.

FASB Proposes Changes on Debt Classification and Inventory Disclosures

The FASB has issued a pair of proposed accounting standards updates on the classification of debt in a classified balance sheet.

AICPA Asks Treasury and IRS to Withdraw Proposed Estate Tax Regulations

The AICPA has asked the Treasury Department and the Internal Revenue Service (IRS) to withdraw regulations regarding the valuation of interests in corporations and partnerships for estate, gift, and generation-skipping transfer tax purposes.

5 Best Industries for Starting A Business in 2017

USA Today offers this look at the top industries for starting a business this year, which includes healthcare and medical marijuana.